That was a harsh judgment, but I had to increase my position by 50%. A new CFO is being sought from the U.S., and that sounds logical.
The market didn’t pay much attention to why Q3 and Q4 are weaker than announced (large investments, weak performance in Germany, very significant negative FX effects) and instead started pricing in a more permanent disappointment.
Admittedly, Klarna is annoyingly reluctant to disclose country-specific or contract-specific figures. But growth is happening, and the upcoming new American CFO is unlikely to harm the American expansion next year. Presumably, they will fish for someone big-name to fill the role who has experience in the American banking world.
It was a bleak day, but I’m sure we’ll “rise” from this slowly once the bottom is found. The quarter itself was, however, excellent. Let’s focus on that instead of the noise.